Updated-DataCenter/NeoCloud
Weekly Charts 5/4/2026
NBIS
Contractual Dominance: The company recently signed a $27 billion, 5-year deal with Meta (larger than Nebius’s entire market cap at the time of signing). This ensures that nearly every GPU they plug in for the next half-decade is already “pre-sold” at high margins.
The “Vera Rubin” Edge: Nebius will be among the first to deploy NVIDIA’s next-generation Vera Rubin platform (the successor to Blackwell). Their $2B partnership with NVIDIA ensures they aren’t just a customer, but a “design partner,” granting them priority access to chips that are currently in global shortage.
Hyper-Growth Valuation: While revenue in 2025 was ~$530 million, the company is guiding for an Annual Recurring Revenue (ARR) of $7B to $9B by the end of 2026. If they hit these targets, the current valuation represents a significant discount to its peer group (like CoreWeave) when adjusted for their massive contract backlog
Looks to be flagging before next move - I am long NBIS along with GLXY as my proxies in this space
CIFR: Transitioning from Bitcoin mining to High-Performance Computing (HPC). **Value Add**: Secured multi-billion dollar colocation deals with AWS ($5.5B) and Fluidstack/Google ($3B-$7B). **5-Year Potential TAM**: Accelerating HPC capacity towards 600 MW gross.**Value Add**: Transition to HPC; 3+ GW power pipeline. **Actual TAM**: **$130B** industrial automation/HPC market.
Flagging
WULF Vertically integrated digital asset miner pivoting to AI/HPC. Value Add: 522 MW of contracted capacity worth $12.8B in revenue. 5-Year Potential TAM: Rapidly expanding platform for power-dense AI wo**Value Add**: Zero-carbon AI infra; 522 MW capacity; $12.8B contracted revenue. **Actual TAM**: **$500B** data center semiconductor spend.
Grinding at top of channel
IREN Renewable-powered Bitcoin and AI data center operator. Value Add: 100% renewable energy sites; multi-year cloud deal with Microsoft. 5-Year Potential TAM: Expanding footprint in high-performance c**Value Add**: 100% renewable energy; dual exposure to BTC and AI data centers. **Actual TAM**: **$500B** data center semiconductor spend.
Flagging
